AC: Revel Close...Sale...Fail
Quote: Baccaratbabe81Sounds like Straub needs to hire Ukstooges to help with the public relations
This would be a great new gig for UK- imagine he & Straub (Kevin Descantis on steroids)patrolling the Jersey Shore crowd @ the HQ club?
"Straub told the women they weren't allowed to drink alcohol that wasn't purchased from a bar at the facility, citing liability concerns. He questioned whether they were underage and ordered them to leave.
"Glenn Straub became angry about the girls defiance and went back over to the truck, climb [sic] up onto it in an aggressive manner demanding respect and acknowledgement of his authority," states a Palm Beach County Sheriff's Office report.
Straub then tried to grab a can out of Newman's hand, she pulled it close to her chin, and Straub touched her while trying to get the beer, the report said."
While Straub grabbed their beers, UK could confiscate their smokes.
what a party?
developer battles battery charge
http://articles.sun-sentinel.com/2012-11-17/news/fl-glenn-straub-polo-battery-case-20121118_1_battery-charge-dui-manslaughter-case-glenn-straub
"At Monday's hearing, Revel's attorneys will ask U.S. Bankruptcy Judge Gloria M. Burns to approve a $3 million break-up fee for Glenn Straub, ...
Friday's motion by Revel attorneys contained a key new detail: Additional bids for Revel would have to start at $94 million, an amount that would more than cover Straub's break-up fee...
But the U.S. Trustee, a unit of the U.S. Department of Justice that monitors bankruptcies, objected both to the break-up fee and the short timeline for the sale...
"The revised proposed bid deadline of September 23, 2014 does not provide sufficient time for parties to submit bids now that the hotel and casino are no longer operating," the U.S. Trustee's filing said....
As for the break-up fee, the U.S. Trustee said the fee is not appropriate because it's not clear that it benefits the bankruptcy estate - which faces $447 million in secured claims and millions more in unsecured claims - as is required under case law...
The trustee said that has as a starting point for calculating a break-up fee, Straub "will have to disclose its costs and expenses in putting together the bid."....
In a separate matter, a lawyer for Atlantic City filed a motion asking for permission to auction a claim on real estate taxes owed by Revel. As of August 5, Revel owed $19.6 million in property taxes, plus nearly $400,000 in interest,the filing said."
Read more at http://www.philly.com/philly/business/Filings_add_to_complications_of_Revel_bankruptcy.html#tFWUvk4r5Ux0ubS3.99
"An attorney for Florida investor Glenn Straub, who last week bid $90 million for the shuttered Revel Casino Hotel in Atlantic City, told U.S. Bankruptcy Judge Gloria M. Burns on Monday that Straub could open parts of the building a couple of weeks after buying it, if the sale goes quickly.The attorney, Stuart J. Moskovitz, was arguing in favor of an auction proposed for Sept. 24.That short timeline was met with skepticism by the judge and with objections by numerous parties in the case, despite the fact that two previous attempts at having an auction for $2.4 billion property failed to generate any qualified bids."
"Despite the fact that his offer is not contingent on receiving a casino license in New Jersey, Straub said it's likely that a casino will operate there sometime in the future."It just won't be the size it is now," Straub said. Previously, Straub has suggested that he could find a casino operator to run a casino at the property."
"In addition to the timing of an auction, the court was also considering the provision for a $3 million breakup fee that would be paid if another bidder buys Revel.
The judge said she was inclined to support the breakup fee."
Read more at http://www.philly.com/philly/business/20140916_Revel_bidder_says_parts_of_building_could_reopen_quickly.html#MWlItIcAIeBvXMIK.99
I think he should just the spend time to configure the property into what his vision is and open it at that time even if it takes a couple of years. No way will guests tolerate construction while he is trying to change the property over.
Quote: JackStraw8004What exactly does this mean. They would just be reopening for rooms. Now that the slow season is beginning who is going to stay there without a casino. Which of the restaurant owners would reopen knowing they would have no business. Your going to hire a waitstaff and pay them $2.45 an hour for them to stand around. No one will take the job that depends on tips to survive. I believe just the cost of utilities alone would be more than Straub will earn in charging for rooms. He wouldn't be able to charge what the Revel was getting before with just one or two operating restaurants and the nightclub. Any convention business he would lure would demand a full service hotel. This would mean the gourmet restaurants and regular restaurants open along with the spa and gift shop open so the guests can buy items like toothpaste and shaving cream.
I think he should just the spend time to configure the property into what his vision is and open it at that time even if it takes a couple of years. No way will guests tolerate construction while he is trying to change the property over.
I think it means this guy inherited a bunch of $ from a family business & he's fruit loops.
"Straub is originally from Wheeling, West Virginia, where he amassed a fortune in real estate and mining manufacture after he and two brothers took over his father’s auto leasing business following his death. They subsequently expanded, developing interests in real estate, construction and manufacturing in several states."
"He bought Broward Marine, the yacht manufacturing firm, for $40 million in 1999, later selling for an undisclosed sum in 2005. SouthFloridaCEO magazine reported that after buying, Straub cut the work force from 200 to less than 50, dropping vessel production from eight a year to two.
He also purchased the former Miami Heat arena for $28 million, less than half the 1988 construction cost. It was subsequently demolished in 2008, then leased as a park during the late 2000s’ South Florida real estate crash, before being sold to a real estate developer in 2012."
Remember him when Icahn got a bit too greedy?
http://casinoconnectionac.com/issue/vol-10-no-5-may-2013/article/icahn-holds-up-sale-of-trump-plaza
Revel's hedge-fund backers have been trying to sell the property for months. Their investment bankers contacted more than 200 potential bidders but failed to land a qualified bidder until Straub showed up.
Two auctions scheduled for August were canceled after no qualified bidders emerged.
Straub's offer, known as a stalking-horse bid, will set a baseline for the auction. The bid has sparked some interest. "We do see a lot of activity coming out of the woodwork now," said Shaun Martin, Revel's chief restructuring officer.
Even if Straub wins the closed-door auction next week at the New York offices of White & Case L.L.P., the deal will still be far from done because many pieces, such as disputed contracts, still need to fall into place, the judge said.
Read more at http://www.philly.com/philly/business/20140916_Revel_bidder_says_parts_of_building_could_reopen_quickly.html#STYuBmiws7rUv2rE.99
"We're going to be doing six, seven more things there. If it makes money, that's good. Pat us on the back. If it doesn't make money, then we close her down just like Miami Arena and we blow it up," Straub said.
In 2004, Straub bought the city-owned arena in Miami, opened at a cost of $52.5 million in 1988, for $28 million, but knocked it down four years later after he found it impossible to compete with newer arenas nearby...
A trail of litigation - both as plaintiff and defendant - has followed Straub for a few decades. This year, for example, according to the Palm Beach Post, Straub sued someone over allegations that Straub did not get the VIP tickets he was promised for events at the Palm Beach International Equestrian Center.
Without being specific, Straub said he was working on something much bigger for Atlantic City when Revel came along.
Straub spoke cryptically of a high-speed way to get people to Atlantic City from New York, "if they want to come down. If they don't want to come down, then there's always a back-up. Everything we do always has a back-up, because you never know when things won't work."
Read more at http://www.philly.com/philly/business/20140912_Revel_bidder__Distress_is_his_business.html#khSfrLU3gq4CzzxQ.99
The only explanation must be that Straub is a big practical joker
"The Florida-based bidder of the Revel Casino Hotel said he plans to add an educational institution next to the $2.4 billion building, according to a report from the Press of Atlantic City.
Glenn Straub, who placed a $90 million cash bid on the casino, told the newspaper he'd like build a second 35-story tower that would house a university, although he did not name a specific school.
His plan is to create a community of the world's brightest people, who would work on global issues like nuclear waste disposal, the report said.
Straub told the Press of Atlantic City that he doesn't want gambling to be the sole reason people come to Revel.
He also told the newspaper he has plans for a high-speed ferry and rail systems, along with an underground passageway for people to navigate through Atlantic City in the winter."
http://www.nj.com/atlantic/index.ssf/2014/09/revel_bidder_plans_to_build_a_university_in_casino_report_says.html
Quote: 7star4nowHoly smokes! Don Quixote buying Revel:
The only explanation must be that Straub is a big practical joker
"The Florida-based bidder of the Revel Casino Hotel said he plans to add an educational institution next to the $2.4 billion building, according to a report from the Press of Atlantic City.
Glenn Straub, who placed a $90 million cash bid on the casino, told the newspaper he'd like build a second 35-story tower that would house a university, although he did not name a specific school.
His plan is to create a community of the world's brightest people, who would work on global issues like nuclear waste disposal, the report said.
Straub told the Press of Atlantic City that he doesn't want gambling to be the sole reason people come to Revel.
He also told the newspaper he has plans for a high-speed ferry and rail systems, along with an underground passageway for people to navigate through Atlantic City in the winter."
http://www.nj.com/atlantic/index.ssf/2014/09/revel_bidder_plans_to_build_a_university_in_casino_report_says.html
This has to be a joke. Just when you thought the Revel story couldnt get any worse. What is wrong with the rooms there now? Digging tunnels under the city? What for homeless to live in? Even UK and Kevin couldnt make this stuff up.
This guy has to be working an angle on this for publicity.
Quote: 7star4now
He also told the newspaper he has plans for a high-speed ferry and rail systems, along with an underground passageway for people to navigate through Atlantic City in the winter."
Where do I sign up for a tour of the dank, poorly lit walkway under the slums?
Quote: BozThis has to be a joke. Just when you thought the Revel story couldnt get any worse. What is wrong with the rooms there now? Digging tunnels under the city? What for homeless to live in? Even UK and Kevin couldnt make this stuff up.
This guy has to be working an angle on this for publicity.
Is it possible Glenn Straub is actually UK Stages?
Quote: 1BBHas he mentioned teleporters yet or is he saving them as his ace in the hole?
Very intuitive.
As a matter of fact, it is rumored teleporters will be used to evacuate the "community of the world's brightest people, who would work on global issues like nuclear waste disposal" - in the event of an atomic waste spill resulting from this enterprise.
He anticipates the nuclear waste angle will draw gamblers like flies to the casino , as will his "smoking patron only policy".
All food outlets will be buffets & all staff will be required to wear tin foil hats.
ATLANTIC CITY, New Jersey -- ACR Energy Partners is reportedly close to bankruptcy on account of Revel not paying its energy bill, the Press of Atlantic City reported.
The company has asked the court for Revel to prepay for service, the repor said.
Revel is alleged to owe $12 million alone for the past three months to ACR Energy Partners, of which it has only paid $2.35 million, the Press of Atlantic City noted.
http://www.casinocitytimes.com/news/article/revels-energy-supplier-struggling-210588
Quote: 7star4nowRevel's energy supplier struggling
ATLANTIC CITY, New Jersey -- ACR Energy Partners is reportedly close to bankruptcy on account of Revel not paying its energy bill, the Press of Atlantic City reported.
The company has asked the court for Revel to prepay for service, the repor said.
Revel is alleged to owe $12 million alone for the past three months to ACR Energy Partners, of which it has only paid $2.35 million, the Press of Atlantic City noted.
http://www.casinocitytimes.com/news/article/revels-energy-supplier-struggling-210588
For those us on the other side of the world, can you please explain/answer who "ACR Energy Partners" is? It that the power company or some how a re-seller who took on the risk? It seems strange they, the actual power company, wouldn't pull the plug after the first default?
Any update on the sports betting issue also much appreciated!
Quote: 7star4nowRevel's energy supplier struggling
ATLANTIC CITY, New Jersey -- ACR Energy Partners is reportedly close to bankruptcy on account of Revel not paying its energy bill, the Press of Atlantic City reported.
The company has asked the court for Revel to prepay for service, the repor said.
Revel is alleged to owe $12 million alone for the past three months to ACR Energy Partners, of which it has only paid $2.35 million, the Press of Atlantic City noted.
http://www.casinocitytimes.com/news/article/revels-energy-supplier-struggling-210588
What the heck is ACR Energy Partners? 3 months worth of power for Revel should have cost about $1.6MM total (20,000MWh * $80/MWh). Natural gas would be a fraction of that.
Cynic says Kevin's to siphon money.Quote: rdw4potusWhat the heck is ACR Energy Partners? 3 months worth of power for Revel should have cost about $1.6MM total (20,000MWh * $80/MWh). Natural gas would be a fraction of that.
I seem to recall, Revel owed 10+ Million electric bill prior to BK -I posted earlier on this thread- my speculation was that was why they shut down the animation on the rv rooftop ball months ago
Revel Casino Hotel is “a melting ice cube”
“Simply put, Revel is not profitable,” he said. “It has over $400 million of first-and-second-lien debt. It has steep operating costs, including $3 million a month under a burdensome contract with the energy company that runs its power plant.
http://www.nj.com/business/index.ssf/2014/06/revel_casino_is_a_melting_ice_cube_lawyer_tells_banruptcy_judge.html
Quote: 7star4now
“Simply put, Revel is not profitable,” he said. “It has over $400 million of first-and-second-lien debt. It has steep operating costs, including $3 million a month under a burdensome contract with the energy company that runs its power plant.
http://www.nj.com/business/index.ssf/2014/06/revel_casino_is_a_melting_ice_cube_lawyer_tells_banruptcy_judge.html
ACE has spare transmission capacity. Obviously, the city itself is more constrained than the rest of Atlantic County, but it's not an inaccessible market. Market rates for firm fixed forward deliveries to ACE's zone are $80/MWh all in. During operations, Revel's usage was only about 8000MWh/month, and it's a fraction of that now. Other than for emergency backup, why did they build a cogeneration plant? Who pays $3MM/month to avoid market costs of $800k/month? Any number of reputable companies could perform O&M on a cogen unit in AC for a reasonable fee. The going rate is not $3MM/month. There's no way that the winning bid in a competitive bidding process was $3MM/month. I wonder what other Revel contracts were wildly above market prices?
“You’ve got a very high humidity environment” in Atlantic City, he said Friday. “That will be almost impossible to control without air handlers operating.”
“One way or another …[that humidity] will find a pathway into the building,” he said.
In the Friday filing, ACR said it has been paid about $2.35 million of nearly $12 million owed for energy services provided to Revel in the last three months. And Revel owes at least $11 million for earlier-provided service, the company told the court."?
http://www.pressofatlanticcity.com/news/breaking/revel-s-energy-supplier-says-it-s-on-verge-of/article_2b804ec4-401b-11e4-a760-7faac23cd538.html
Perhaps the best story on why Revel failed from the start. Great read if you have time. Bottom line is Kevin hired a designer who "hated" casinos. And he agreed with most of what she said.
And he still doesnt know why it failed.
Note he was "unavailable" for comment for this story.
$2.4 billion is a lot to pay for a date.Quote: rdw4potusTried to read the article, couldn't get past the picture. I'd say yet to anything that chick said...no matter how bad it made my casino.
Quote: Bozhttp://www.pressofatlanticcity.com/news/press/casinos_tourism/special_report/revel-s-design-broke-the-mold-that-brings-casinos-success/article_e7f88e4c-4104-11e4-9b5a-5b81baba3554.html
Perhaps the best story on why Revel failed from the start. Great read if you have time. Bottom line is Kevin hired a designer who "hated" casinos. And he agreed with most of what she said.
And he still doesnt know why it failed.
Note he was "unavailable" for comment for this story.
Great article
"Conversations were like improvisational jazz, with DeSanctis speaking in high ideals and metaphors.
“He would never be really clear,” Pageau says. “I remember he would say, ‘Val, listen to the music, not the lyrics’…
“He was — how do you say? — avant-garde.”
"High rollers accustomed to the red-carpet treatment didn’t have special bars, restaurants or exclusive gambling rooms, he says. Ultra Lounge, which housed Revel’s high-stakes tables and slots, was hidden in a far corner of the casino.
“Kevin wanted everyone to feel like a VIP,” Pageau says. “Ultra Lounge was meant to be a kind of VIP environment, but everyone was welcome. I kind of admire that idea, but it’s probably true that a casino needs VIPs.”
" The placement of the hotel check-in on the sixth floor was a nod to bygone hotels of the 19th and early 20th centuries, he says, but most gamblers want quick, easy elevator access to and from the casino floor.
The absence of a buffet or food court next to the casino floor also meant that Revel missed out on, for example, guests lured down for breakfast who then stay to gamble. It also meant that those looking for cheaper options were, at least at first, left out.
“You need to have every price-point to be successful,” he says."
"From opening day, however, large portions of the casino were left unfinished. At night, the middle floors of the tower were blacked out because the rooms there were never built. Hallways snaking around the casino were lined with murals in place of retail shops that never came. HQ Beach Club, one of the few profitable ventures on-site, didn’t launch until nearly a year later.
“Most of the areas that weren’t finished were pretty well hidden from the public,” Dabbs says. “There were things I found after a year and a half that I didn’t even know existed because we weren’t building them.”
But those incomplete spaces didn’t go unnoticed. Many of the patrons a casino needs to succeed — gamblers — didn’t like it."
Wait Until Glenn Straub turns Royal Jelly ino a Pulpit w/ a 24 hr preacher
"His ideal student would be "free, white and over 21," he said, using a politically incorrect way to describe someone with no financial obligations."
"He would then convert the complex into a university where the best and brightest young minds from across the world could work on the big issues of the day...
"We want people who will cure the world of its hiccups," said Straub in an interview, his ideas for Atlantic City spilling out in his rapid-fire manner"
"Another casino in Atlantic City is not the answer," Straub said. "
""Still, his ideas for the building have some in the city wondering. ..When you start off with these kinds of ideas, to my eyes, it doesn't give you a whole lot of confidence," said Democratic Assemblyman Vince Mazzeo, who represents Atlantic City."
https://www.google.com/?gws_rd=ssl#tbs=sbd:1&tbm=nws&q=%22Atlantic+City%22+-rice%22casino%22
Quote: 7star4nowUPDATE: New Revel Owner Glenn Straub - if you were waiting for him to cross the line- God help AC:
"His ideal student would be "free, white and over 21," he said, using a politically incorrect way to describe someone with no financial obligations."
"He would then convert the complex into a university where the best and brightest young minds from across the world could work on the big issues of the day...
"We want people who will cure the world of its hiccups," said Straub in an interview, his ideas for Atlantic City spilling out in his rapid-fire manner"
"Another casino in Atlantic City is not the answer," Straub said. "
""Still, his ideas for the building have some in the city wondering. ..When you start off with these kinds of ideas, to my eyes, it doesn't give you a whole lot of confidence," said Democratic Assemblyman Vince Mazzeo, who represents Atlantic City."
https://www.google.com/?gws_rd=ssl#tbs=sbd:1&tbm=nws&q=%22Atlantic+City%22+-rice%22casino%22
Off the top of my head, at least 5 of the best schools in the world are within 100ish miles of Revel. Any word on why he thinks that those students would pick his brand new reputation-less university in the shell of a former casino instead of one of those schools?
Quote: rdw4potusOff the top of my head, at least 5 of the best schools in the world are within 100ish miles of Revel. Any word on why he thinks that those students would pick his brand new reputation-less university in the shell of a former casino instead of one of those schools?
IMO- I think you miss the point.
He's sobered - or come to his senses about bidding on something no sane investor has- or still drunk?
He's trying to get the judge on Thurs to disqualify his bid - or still drunk?
Quote: 7star4nowIMO- I think you miss the point.
He's sobered - or come to his senses about bidding on something no sane investor has- or still drunk?
He's trying to get the judge on Thurs to disqualify his bid - or still drunk?
Does he get the breakup fee if his bid is disqualified?
Quote: rdw4potusDoes he get the breakup fee if his bid is disqualified?
I assume no breakup -if he is not a qualified bidder - or if there is no other bidder- how long can the media ignore this?
"His ideal student would be "free, white and over 21," he said, using a politically incorrect way to describe someone with no financial obligations."
I've mentioned this thing nobody believed for so long, I started doubting it or thought the news story mentioning it was a lie.Quote: 7star4nowRevel tells Revel:
" Ya fired"?
http://www.prnewswire.com/news-releases/revel-group-llc-announces-plans-it-will-terminate-license-agreement-with-the-revel-branded-property-in-atlantic-city-276364041.html
Quote: Boz
Perhaps the best story on why Revel failed from the start. .
Lets have no smoking, no buffet, no food court, we'll treat
whales like we treat everybody else, and hire a 26 year
old to design it who hates casinos. We can't fail!
The funny part is it was supposed to be much larger, a
whole other tower didn't get built. And 30% of the inside
was left unfinished. If it had all been completed, it could
have been a real epic fail..
She must have had some real awesome talent I can only dream of.Quote: EvenBobLets have no smoking, no buffet, no food court, we'll treat
whales like we treat everybody else, and hire a 26 year
old to design it who hates casinos. We can't fail!
Quote: onenickelmiracleShe must have had some real awesome talent I can only dream of.
I liked the experienced woman who travels
to casinos everywhere and the Revel was
the only casino she ever returned their
players card to because she hated the
place so much she knew she'd never be
back. The kind of gut reaction every
architect has nightmares about.
"Revel Bidder: University Next to Casino Tower Would Have Students Who Are ‘Free, White and Over 21’"
"Speaking to Reuters about his plans for a university “for geniuses” at the casino site, Straub said he planned to fund the initiative with a 2 percent wage garnish of anyone who’s hired away by a corporation. He also revealed the ideal student for his venture: “Free, white and over 21.” Reuters helpfully points out he was “using a politically incorrect way to describe someone with no financial obligations.” (It’s an archaic idiom that dates to at least the ’30s that means you’re beholden to no one. Still not the expression I’d choose!)"
"This news comes in the wake of Straub telling the Inquirer that if his plans for Revel failed, he'd demolish the building like he did the Miami Arena. Straub later broke the news of his university plan to the Press of Atlantic City and explained his University "for geniuses" would help solve problems like nuclear waste disposal."
Read more at http://www.phillymag.com/news/2014/09/23/revel-bidder-university-next-casino-tower-students-free-white-21/#FgEAf0jHjHejcTsR.99
Quote: 7star4nowUh-OH- the media finally noticed Revel Bidder is Looney Tunes:
"Revel Bidder: University Next to Casino Tower Would Have Students Who Are ‘Free, White and Over 21’"
"Speaking to Reuters about his plans for a university “for geniuses” at the casino site, Straub said he planned to fund the initiative with a 2 percent wage garnish of anyone who’s hired away by a corporation. He also revealed the ideal student for his venture: “Free, white and over 21.” Reuters helpfully points out he was “using a politically incorrect way to describe someone with no financial obligations.” (It’s an archaic idiom that dates to at least the ’30s that means you’re beholden to no one. Still not the expression I’d choose!)"
"This news comes in the wake of Straub telling the Inquirer that if his plans for Revel failed, he'd demolish the building like he did the Miami Arena. Straub later broke the news of his university plan to the Press of Atlantic City and explained his University "for geniuses" would help solve problems like nuclear waste disposal."
Read more at http://www.phillymag.com/news/2014/09/23/revel-bidder-university-next-casino-tower-students-free-white-21/#FgEAf0jHjHejcTsR.99
Its sad when the last hope for this place is Loveman! We should know who the other mystery bidder is later today.
Quote: BozIts sad when the last hope for this place is Loveman! We should know who the other mystery bidder is later today.
AC Press said 4 pm deadline?
Maybe Loveman underestimated how much time it would take to print $10 million $ in monopoly money for the deposit.
reported in AC Press
Maybe he "hopes" there are to get his client off the hook for this fiasco?
update -Meanwhile -Revel spokeswoman Lisa Johnson said Tuesday that she does not know whether there are more credible bids on the Revel property.
hmmm
"Straub said he wouldn't be devastated if the Revel deal falls through. "I don't need that monstrosity," he said."
http://www.pressofatlanticcity.com/news/breaking/attorney-revel-expected-to-go-to-auction/article_b139b610-4352-11e4-848f-0fdcdb824d83.html
Quote: EvenBobThe funny part is it was supposed to be much larger, a
whole other tower didn't get built. And 30% of the inside
was left unfinished.
Does anyone know what those middle floors really look like? Just how finished / unfinished are they?
It is still possible that the bids received on Tuesday may not qualify if they fail to meet certain requirements, such as financing arrangements.
The bids came from a party involved with casino gaming outside New Jersey and a real estate developer, according to a person familiar with the bidding process.
http://whbl.com/news/articles/2014/sep/23/atlantic-citys-revel-casino-heads-to-sale-as-late-bids-emerge/
No one else has this story yet, but the reporter Tom Hals, appears to have connections in Delaware
"The bids came from a party involved with casino gaming outside New Jersey"
it, air conditioned and heated at all times or
the interior quickly goes into a state of rot.
That has to be a million a month at least.
Quote: EvenBobSo the owner has to keep the Revel, all of
it, air conditioned and heated at all times or
the interior quickly goes into a state of rot.
That has to be a million a month at least.
Not sure what they're doing now. "Air conditioned" is a relative thing. could run 5 min every hour to just kill the humidity but let the temp hover in the 80s. Under normal operating conditions, usage is about 8000 megawatt hours per month. Delivered commodity cost is about $80-$90/MWh plus distribution charges from Atlantic City Electric. Would have been about $1MM/month during summer operations, but is probably more like $500-$600k/month now.
Quote: GWAEIf someone buys it for 94 mil, do they own it free and clear? Do all the creditors then get to fight it out for the 94m and rest gets washed away?
Still not a deal.
Quote: rdw4potusbut is probably more like $500-$600k/month now.
It's right on the ocean, which plays hell
with big buildings. Big humidity problems,
mold everywhere if you don't do it right.
